(1) If the auction-purchaser of any holding or land in respect of which an order under Section 4 has been made has not alienated the whole or any part of the holding or land purchased by him and is in possession thereof, the amount deposited with the Deputy Commissioner under clause (b) of Section 4 shall be paid to him on his application and in the prescribed manner.
(2) If the auction-purchaser of such holding or land has alienated the same or any part thereof prior to the date of the order, under Section 4, the amount deposited with the Deputy Commissioner under clause (b) of Section 4 shall be paid on the application of the person entitled to payment under this subsection and in the prescribed manner,-
(a) in the case of alienation by means of-
(i) a bona fide sale or exchange for valuable consideration, or
(ii) a bona fide gift by registered instrument, or
(iii) a usufructuary mortgage, to the person in possession of the holding or land sold or, if more than one person are in possession thereof, to all such persons in such proportions as the Deputy Commissioner may deem fair and equitable;
(b) in the case of alienation by means of a bona fide lease for valuable consideration to the auctionpurchaser and any person or persons claiming through the auction-purchaser and in possession of 3/3 the holding or land sold, in such proportions as the Deputy Commissioner may deem fair and equitable.